Planet Labs PBC (NYSE: PL) stock jumped 3.40% on Monday to $2.43 against a previous-day closing price of $2.35. With 1.01 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.51 million shares. During the session, the Aerospace & Defense company that operates in wider Industrials sector, reached to the highest price of $2.4450 whereas the lowest price it dropped to was $2.3250. The 52-week range on PL shows that it touched its highest point at $5.81 and its lowest point at $2.04 during that stretch. It currently has a 1-year price target of $5.44. Beta for the stock currently stands at 0.71.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PL was up-trending over the past week, with a rise of 8.48%, but this was up by 13.55% over a month. Three-month performance dropped to -24.30% while six-month performance fell -44.14%. The stock lost -52.45% in the past year, while it has lost -44.14% so far this year. A look at the trailing 12-month EPS for PL yields -0.55 with Next year EPS estimates of -0.21. For the next quarter, that number is -0.08. This implies an EPS growth rate of 2.57% for this year and 31.03% for next year. EPS is expected to grow by 30.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 32.20%.
Float and Shares Shorts:
At present, 250.63 million PL shares are outstanding with a float of 165.97 million shares on hand for trading. On Oct 30, 2023, short shares totaled 7.72 million, which was 2.70% higher than short shares on Sep 28, 2023. In addition to Mr. William Spencer Marshall as the firm’s Co-Founder, CEO & Chairman of the Board, Mr. Robert Henry Schingler Jr. serves as its Co-Founder, Chief Strategy Officer & Director.
Institutional Ownership:
Through their ownership of 55.12% of PL’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 18.91% of PL, in contrast to 12.64% held by mutual funds. Shares owned by individuals account for 10.06%. As the largest shareholder in PL with 6.55% of the stake, The Vanguard Group, Inc. holds 17,322,674 shares worth 17,322,674. A second-largest stockholder of PL, BlackRock Fund Advisors, holds 10,641,882 shares, controlling over 4.02% of the firm’s shares. Canada Pension Plan Investment Bo is the third largest shareholder in PL, holding 7,800,000 shares or 2.95% stake. With a 2.95% stake in PL, the Canada Pension Plan is the largest stakeholder. A total of 7,800,000 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.19% of PL stock, is the second-largest Mutual Fund holder. It holds 5,801,296 shares valued at 12.53 million. Vanguard Small Cap Index Fund holds 1.86% of the stake in PL, owning 4,912,456 shares worth 10.61 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PL since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PL analysts setting a high price target of $7.00 and a low target of $4.00, the average target price over the next 12 months is $5.44. Based on these targets, PL could surge 188.07% to reach the target high and rise by 64.61% to reach the target low. Reaching the average price target will result in a growth of 123.87% from current levels.
